SEOUL, April 5 (Korea Bizwire) — LG Electronics Inc. said Monday it will withdraw from the mobile business after years of money-losing performance amid intensifying competition with bigger rivals. The South Korean tech powerhouse said in a regulatory filing that its mobile communications (MC) unit will no longer produce and sell handsets after July 31, [...]
SEOUL, April 3 (Korea Bizwire) – LG Electronics Inc. is expected to post its best-ever first-quarter earnings, according to analysts, on the back of robust performance by its home appliance and TV businesses amid the pandemic-driven stay-at-home economy. The South Korean tech powerhouse was projected to log 17.8 trillion won (US$15.7 billion) in sales in [...]
SEOUL, April 2 (Korea Bizwire) — LG Electronics Inc. said Friday it has begun selling its rollable TV in foreign markets as the South Korean tech giant eyes to expand its presence in the high-end TV market. LG started overseas sales of the SIGNATURE OLED R TV through its global website Thursday. The industry’s first [...]
SEOUL, April 1 (Korea Bizwire) — LG Electronics Inc. on Thursday launched a new 17-inch laptop boasting high performance as the South Korean tech giant eyes boosting notebook sales amid the pandemic-induced remote working and distance learning trends. The new model in the LG UltraGear 17 series comes with a price tag of 2.24 million [...]
SEOUL, March 31 (Korea Bizwire) — LG Electronics Inc., a major home appliance maker in South Korea, said Tuesday that it has donated Tromm washers and dryers to a number of animal protection agencies. The company, together with its management volunteer corps, donated Tromm Washing Machine Steam Pet washers and Tromm Dryer Steam Pet dryers [...]
SEOUL, March 30 (Korea Bizwire) – LG Electronics Inc. said Tuesday it has joined hands with local partners to develop renewable energy technology and achieve carbon neutrality. Under the partnership with Korea Water Resources Corporation and POSCO, the country’s largest steelmaker, LG will collaborate in building a renewable energy cluster here. The three will work [...]
SEOUL, March 30 (Korea Bizwire) — South Korea’s two largest TV makers — Samsung Electronics Co. and LG Electronics Inc. — said Tuesday their premium TVs have obtained a certification for advanced Wi-Fi technology that enables them to deliver faster and more stable connectivity. Samsung said two Neo QLED TV models — QN900A and QN800A [...]
SEOUL, March 26 (Korea Bizwire) — South Korean tech giant LG Electronics Co. has been accused of avoiding proper compensation for inventions. Some 60 current and former LG employee reportedly filed a lawsuit against the company in 2018 for failing to pay for a number of inventions. Among those inventions include smartphone software that LG [...]
SEOUL, March 25 (Korea Bizwire) — LG Electronics Inc. has invested more than 4 trillion won (US$3.5 billion) in its automotive business in the recent five years, its report showed Thursday, as the South Korean tech giant eyes beefing up its future growth engine. The investment from LG’s vehicle component solutions (VS) division was 587.8 [...]
SEOUL, March 24 (Korea Bizwire) — Shareholders of LG Electronics Inc. on Wednesday approved the company’s plan to split off some of its electric vehicle (EV) components business to set up a joint venture (JV) with Canadian auto parts maker Magna International Inc. The shareholders passed LG’s proposal to carve out the EV powertrain business [...]